Index Archive

20 April 2017

Panama Expose Pakistan SC orders JIT to investigate Sharif's family involvement
The Supreme Court of Pakistan on Thursday giving a split verdict on Panama case ordered to form a joint investigation team (JIT) within seven days to investigate how money was transferred to Qatar by the Sharif family. The JIT would complete its probe within 60 days.

The five-member larger bench remarked that formation of JIT had been ordered as the DG NAB had failed to investigate the matter.

The JIT will comprise of seven members from SECP, MI, ISI and NAB.

Justice Asif Khosa and Justice Gulzar concluded that Prime Minister Nawaz Sharif should be disqualified. However, the bench remarked that prime minister had not been disqualified

The controversy threatened to plunge Nawaz Sharif´s governing party into turmoil ahead of looming general elections, and as security and the economy improve in the militancy-plagued country.

It erupted with the publication of the so-called Panama Papers last year, 11.5 million secret documents from Panamanian law firm Mossack Fonseca which documented the offshore dealings of many of the world´s rich and powerful.

Among the global elite implicated were three of Sharif´s four children -- his daughter and presumptive political heir Maryam, and his sons Hasan and Hussein.

At the heart of the matter is the legitimacy of the funds used by the Sharif family to purchase several high-end London properties via offshore companies.

Every nation needs to investigate thoroughly the families whose name has come in the Panama Papers – Panama Papers means 90% truth. The investigative agencies need to verify the funds and punish the criminals.